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Registration number: 01749554

Alcar Industrial Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Alcar Industrial Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Alcar Industrial Services Limited

Company Information

Directors

Mrs CJ Jones

Mr A Jones

Registered office

Alcar International Ltd
Rutland Road
Scunthorpe
DN16 1HX

Accountants

Beresfords
Chartered Certified Accountants
1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

 

Alcar Industrial Services Limited

(Registration number: 01749554)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,501

9,855

Current assets

 

Debtors

5

290,068

368,860

Cash at bank and in hand

 

85,998

36,715

 

376,066

405,575

Creditors: Amounts falling due within one year

6

(30,452)

(67,363)

Net current assets

 

345,614

338,212

Net assets

 

353,115

348,067

Capital and reserves

 

Called up share capital

200

200

Retained earnings

352,915

347,867

Shareholders' funds

 

353,115

348,067

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 February 2024 and signed on its behalf by:
 

.........................................
Mrs CJ Jones
Company secretary and director

   
     
 

Alcar Industrial Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Alcar International Ltd
Rutland Road
Scunthorpe
DN16 1HX
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the Company's ability to continue as a going concern.

 

Alcar Industrial Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Judgements

No judgements have been made in the process of applying the accounting policies that have had a significant effect on the amounts recognised in the financial statements.

No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is possible that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
• the Company has transferred the significant risks and rewards of ownership to the buyer,
• the Company no longer retains continuing managerial involvement to the degree usually associated with ownership
• the Company no longer has effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the Company will receive the consideration due under the transaction; and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Finance income and costs policy

Interest income is recognised in profit or loss using the effective interest method.

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

All borrowing costs are recognised in profit or loss in the year they are incurred.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Alcar Industrial Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

 

Alcar Industrial Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

3,678

1,400

35,649

40,727

At 30 November 2023

3,678

1,400

35,649

40,727

Depreciation

At 1 December 2022

1,503

1,259

28,108

30,870

Charge for the year

435

35

1,886

2,356

At 30 November 2023

1,938

1,294

29,994

33,226

Carrying amount

At 30 November 2023

1,740

106

5,655

7,501

At 30 November 2022

2,175

140

7,540

9,855

 

Alcar Industrial Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

5

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

7

7,004

85,794

Other debtors

 

218,604

218,606

Income tax asset

64,460

64,460

 

290,068

368,860

Other debtors includes an interest free loan provided to Mr A Jones, one of the directors. There were no repayments (2022: £nil) during the year, which left a balance owing of £9,345 (2022: £9,345).

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

8,150

23,615

Accruals and deferred income

1,133

1,107

Other creditors

21,169

42,641

30,452

67,363

7

Related party transactions

Summary of transactions with parent

Alcar Precision Products Limited
 
Alcar Industrial Services Limited is a subsidiary undertaking of Alcar Precision Products Limited. The amount due from Alcar Precision Products Limited at the balance sheet date is £4,065 (2022: £4,065).

 

 

Alcar Industrial Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

7

Related party transactions (continued)

Summary of transactions with associates

Alcar International Limited

Alcar International Limited is an associate company of Alcar Industrial Limited, controlled by Alcar Precision Products Limited.

During the year, Alcar Industrial Services Limited sold services to Alcar International Limited to the value of £237,021 (2022: £290,472) at the normal trade prices. The amount due to Alcar International Limited at the balance sheet date is £2,938 (2022 (£81,729)).

Summary of transactions with other related parties

Mr C W Jones
 There were no repayments (2022: nil) during the year, which left a balance owing of £209,260 (2022: £209,260) from Mr C W Jones, a related party of director Mrs C J Jones.
 

8

Controlling party

The ultimate controlling party is Alcar Precision Products Limited.